The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1887-08-13
70 the Property Holders
IN TIL E.
HAWAIIAN KINGDOM.

Your attention Is respectfully invited to the
advantages which would be offered by a Home
Mutual Fire and Marine Insurance Company 70
all parties who have occasion to seek the procec-
ton of Insurance in this Kingdom against fire
/ and marine losses.
1t is not proposed at this time TO canvass the
4 subject exhaustiveIy, but only to point out some
Of the more important features, which may be
added to later on.
/ q A glance at the present condition of Fire In
surance in this country may enable Us to see
more clearly the prospective advantages of the
proposed scheme.
Previous TO the great tve in Honolulu OF the
18th Of April, 1886, the Fire Insurance rates eN-
acted by the companies doing business IN this
country, wee on such scale as to make this
one ofthe most desirable fields of its size the
world Tor that class of operations.
II has frequently been affirmed by various
local agents that the risks taken here worked in
the end a loss TO the underwriters, or in other
words, that tine aggregate OF losses paid by the
several companies policies issued in this
Kingdom exceeded tue amount of premiums Ie-
uitted to the home Offices and that the Hawaiian
public should be thankful to these companies
for taking compassion on US, and REIN bursting
our losses with hard coin; These assertions
have been made Notwithstanding the fact that
tempting to induce over thirty companies, hall I
ing from all parts of the business world, to .
tablish agencies in this city, which under /
healthy methods OF manageIne mt, or reasonable /
rates, would seem 10 be oIt of all proportion to .
the extent of the field OF operation.
Even very Indifferent knowledge of the laws
of business, and the causes prompting the in
vestment of capital, and the taking of CONNER
ciaI risks and ventures do not confirm the truth
of these statements; on the contrary their fallacy
becomes more and more appare Mt at every step
Shortly after the FIRE already mentioned, the
local insurance agents formed themselves into
a board, and advanced the rates to figures, which
in many cases were prohibitive and numbers
who formerly carried policies have either re-
iuced their amounts Of insurance or taken the
ris ks themselves. This increase on the part of
the underwriters would hardly seem fair or
even wise in view of the fact that the space
lesolated by the late fire, and which the
most dangerous part of the city has since been
mostly included, by statute, in the FIRE proof
INIT a great portion of which has been COW
red by substantial brick buildings, with regu-
alton fire walls. The water supply of the city
las bee II largely Increased; the apparatus of the
ire Department greatly added TO, and its or
animation, numbers and efficiency much i'm
roved These facts which we'll known to
IL who acquainted Win the city would
eem to have furnished good grounds for re
ucing rather than increasing the rates of Fire
insurance.
The idea of local companies of the character
70 posed is by no means experime ntal, many
both on the Pacific Coast ana in the
lder States Cf the Union might he cited, which
ave not only proved financially successful, but
nder judicious management have greatly eX-
ended the dement's and protection OF Insurance
nongst those who stand in greatest need of this
lass of assistance. 1
1t would only fair and just thata cOmInu- I
ity paying the heavy taxes levied by Fire In
france Companies should share in whatever
rofts may accrue from the business by the
of these profits in the form of
videuds, and this res nit can be attained in no a
ay more readily than through the mutual sys d
m, and the proposition is to organize local
,mpany this basis
It is proposed 10 call meeting of subscribers
the stock the amount reaches Two >
undred Thousand Dollars for the purpose of
ganizing and applying for a Charter of Incor-
,ration.
this is subscription list for
ock, also another for applications for insur-
ice, to which you are respectfully solicited to
bscribe.
The foregoing is merely an outline which
ould be more properly filled up in detail by T
e stockholders themselves, if the scheme /
Gets with public favor and support.
Honolulu, W